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(Bloomberg) — China’s economy probably grew at the slowest in a year during the third quarter despite a boom in exports, in a disconnect the Communist Party may move to rectify at a key meeting in the coming week.
Roche Breast Cancer Drug Delays Progression by Over Four Months
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(Bloomberg) — Roche Holding Ag’s experimental drug giredestrant reduced the risk of breast cancer worsening by almost two thirds in some patients with an advanced form of the disease.
Stocks Climb as Trump Soothes Wall Street Nerves: Markets Wrap
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(Bloomberg) — A jittery week on Wall Street ended on a positive note for stocks as President Donald Trump’s remarks soothed anxiety around trade tensions while regional banks rebounded. Bonds, gold and silver fell.
Bets on Wiped-Out Credit Suisse AT1s Supercharge Invesco ETF
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(Bloomberg) — Traders are homing in on a single exchange-traded fund in their bid to qualify for potential compensation from the wiped-out Additional Tier 1 debt of Credit Suisse Group AG.
FIFA Faces Criminal Complaint Over World Cup Ticket Offer
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(Bloomberg) — Switzerland’s gambling regulator has filed a criminal complaint with authorities against FIFA, following a preliminary probe into sales of blockchain-based tokens linked to World Cup tickets.
Wall Street Jolted as Bank Woes Stir Credit Angst: Markets Wrap
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(Bloomberg) — Stocks slid, extending a weeklong stretch of volatility on Wall Street, as bad loans at two regional banks stirred concern about credit quality in the economy and further underscored the fragility of the $28 trillion bull market. Bitcoin tumbled, while bonds and gold rose.
Europe’s IPO Wave Puts Discount Math at Top of Buyer Checklists
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(Bloomberg) — The roughly $7 billion batch of European initial public offerings this fall has shown sellers must balance the risk of upfront cash versus leaving enough room for the stocks to trade higher.
Nestlé’s New CEO Arrives With Fighting Talk and 16,000 Job Cuts
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(Bloomberg) — Nestlé SA’s new chief executive officer, Philipp Navratil, may be following a strategy set in place by his ousted predecessor, but he’s quickly putting his own hard-driving spin on it.
Nestlé to Slash 16,000 Jobs as New CEO Speeds Up Turnaround
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(Bloomberg) — Nestlé SA’s new chief executive officer announced plans to slash 16,000 jobs only weeks after taking over, aiming to build on a stronger-than-expected increase in quarterly sales that lifted the Swiss foodmaker’s shares by the most in 17 years.
UBS Ramps Up Scrutiny of Asia Clients After Singapore Scandal
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(Bloomberg) — UBS Group AG is increasing scrutiny of the sources of client money in its fast-growing Asian wealth hubs, pressing some customers into greater disclosures as the Swiss bank seeks to stamp out the risk of further clashes with regulators.
Switzerland Says US Tariffs Will Cut Growth to 0.9% Next Year
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(Bloomberg) — Switzerland’s government cut its growth forecast for next year, acknowledging that US tariffs will cause sizable damage to the economy.
Stocks Gain as Trade Tensions Stir More Volatility: Markets Wrap
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(Bloomberg) — Wall Street was lashed with volatility as investors struggled to gauge the scope of trade tensions between the world’s two largest economies. Stocks rallied, plunged, then rose anew amid optimism over earnings.
Credit Suisse AT1 Bondholders Angle for Lehman-Style Payouts
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(Bloomberg) — A group of investors that hold claims tied to about $17 billion of bonds wiped out in the rescue of Credit Suisse are pointing to another failed bank as an example of the potentially lucrative payday they’re holding out for: Lehman Brothers.
Wall Street Rattled Anew by US-China Trade Worries: Markets Wrap
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(Bloomberg) — Resurgent trade tensions slammed Wall Street anew Tuesday, sending stocks, crypto and oil lower while reinforcing a bid for the safest corners of the market from haven currencies to gold.
US Treasury Yields Fall as Powell Keeps Rate-Cut Bets Alive
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(Bloomberg) — US Treasury yields fell to the lowest levels in weeks after Federal Reserve Chair Jerome Powell’s comments left intact expectations for two more interest-rate cuts by the end of the year.
Credit Suisse Bondholders Given Fresh Hope by Swiss Court Ruling
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(Bloomberg) — A Swiss court has given fresh hope to Credit Suisse bondholders who sought damages after their investments were wiped out when UBS Group AG rescued the bank in a government-brokered deal over two years ago.
Prices on Zeroed Credit Suisse AT1s Rise After Court Ruling
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(Bloomberg) — Prices on claims tied to Credit Suisse Additional Tier 1 bonds, which were wiped out in 2023, have risen rapidly after a Swiss court gave a partial win to investors seeking damages.
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(Bloomberg) — Wall Street traders lifted stocks as the US and China signaled willingness to keep trade negotiations alive, Middle East tensions cooled while the artificial-intelligence rally powered ahead.
SNB Negative Rates Are Now Off Almost All Economists’ Agendas
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(Bloomberg) — Economists have largely abandoned forecasts that the Swiss National Bank will cut interest rates into negative territory, according to a Bloomberg survey.
Switzerland, China to Accelerate Trade Talks as US Tariffs Bite
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(Bloomberg) — The Swiss are seeking closer collaboration on trade with China as Switzerland’s talks with the US administration continue in an attempt to lower tariff rates from a record level.
